GDXJ impulsed bullishly with a gap-up opening on Friday, but the move, too powerful for our kind of stealth, is likely to create a Catch-22 situation for anyone attempting to enter on Monday at the calculated ‘x’ of the pattern shown, 23.44. If ‘x’ makes it too easy to get on board, it will probably be a bull trap; but if the follow-through ‘C-D’ rally is as strong as we should prefer, then GDXJ may skip ‘x’ on the way to the 24.130 target. In any case, using the sketch I’ve provided, any trade today will have to be catch-as-catch can. I’ll establish a tracking position only if at least four subscribers report getting aboard.
